The nature of this correction looks like some sort of irregular flat pattern. (Which has an elongated B wave)
This shows that market wants to head in the direction of B, which is up.
However, as long as it remains restricted within the channel, we can call it corrective. I am expecting a 5 swing move down or at least a 3 wave to counter it. and other technical indicators also did not support the breakout. Be cautious.
High breakout from the channel should invalidate this.